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Cost Per Square Foot Formula:
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Electricity cost per square foot is a metric used to measure and compare the efficiency of electricity usage across different properties or spaces. It helps in budgeting, identifying energy inefficiencies, and making informed decisions about energy consumption.
The calculator uses a simple formula:
Where:
Explanation: This calculation divides the total electricity cost by the area to determine how much you're spending per square foot of space.
Details: Calculating electricity cost per square foot is essential for property managers, homeowners, and businesses to compare energy efficiency across different properties, identify areas for improvement, and create accurate budgets for energy expenses.
Tips: Enter the total electricity cost in dollars and the area in square feet. Both values must be positive numbers. The calculator will compute the cost per square foot.
Q1: Why calculate electricity cost per square foot?
A: This metric allows for fair comparison of energy efficiency between properties of different sizes and helps identify unusually high energy consumption.
Q2: What is a good electricity cost per square foot?
A: This varies by region, building type, and climate, but typically ranges from $0.10 to $0.30 per square foot annually for commercial buildings.
Q3: How often should I calculate this metric?
A: It's useful to calculate monthly to track seasonal variations and annually to assess long-term trends and the impact of energy efficiency improvements.
Q4: Does this calculation account for different energy rates?
A: No, it uses your total electricity cost regardless of rate structures. For more detailed analysis, you might want to calculate separately for different rate periods.
Q5: Can I use this for residential properties?
A: Yes, this calculation works for any type of property - residential, commercial, or industrial - to compare energy efficiency.